Secondaries

Secondaries funds can deliver outperformance compared with PE buyout funds due to their diversification and asset-screening processes.

The assets in the process run by the firm formerly known as The Jordan Company ‘do not appear to have the ability to generate outsized returns’, according to adviser Aon.

Focusing down into specific areas of both private markets and the secondaries market is fuelling further capital raising, as well as the rise of evergreen vehicles, we discuss in the latest Second Thoughts podcast.

One in three private equity funds missed their fundraising targets in H1 2024, compared with 4% of secondaries funds.

Verbrugghe spent more than 25 years at Ardian and held a number of leadership positions, including head of Ardian USA and member of the firm’s executive committee.

Cubera X, which focuses on Nordic managers, was oversubscribed and is 54% larger than its predecessor.

‘I can hand on heart say there has never been a deeper, more robust pipeline than the one that we have right now,’ HarbourVest’s Jeff Keay told Secondaries Investor on the back of its $15.1bn flagship raise.

The decision comes as part of ERS Texas’ continued commitment to the private equity asset class, bumping its fiscal year 2024 target up $50m from last year’s $600m targeted commitment.

The hires come after the asset manager brought on its first London-based, dedicated secondaries professional in April.